NSE bans futures trading in Adlabs
Trading in stock futures of Adlabs Films, Essar Oil, Power Grid Corporation of India and 10 other companies has been banned on the National Stock Exchange.
By PTI |
MUMBAI: Trading in stock futures of Adlabs Films, Essar Oil, Power Grid Corporation of India and 10 other companies has been banned on the National Stock Exchange.
In a circular, NSE said the derivative contracts in the underlying Anil Ambani Group firm Adlabs Films, Ruias-led Essar Oil, state-run PGCIL, GMR Infrastructure, Alok Textiles, Bongaigaon Refinery, Tata Teleservices, Rajesh Exports, Gitanjali Gems, Hotel Leela Ventures, Nagarjuna Fertilisers, Neyvelli Lignite, MRPL are currently in the ban period.
Trading in these companies were banned as they have crossed the 95 per cent of market-wide position limit and consequently, restricted from making any fresh contracts, the circular added.
"It is hereby informed that all clients or members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions," the circular said.
The scrip of Adlabs Films has witnessed a jump of over 30.23 per cent in December so far. From the levels of Rs 1,040.80 quoted on December 3, the scrip moved to Rs 1,355.50 as of December 14.
In a circular, NSE said the derivative contracts in the underlying Anil Ambani Group firm Adlabs Films, Ruias-led Essar Oil, state-run PGCIL, GMR Infrastructure, Alok Textiles, Bongaigaon Refinery, Tata Teleservices, Rajesh Exports, Gitanjali Gems, Hotel Leela Ventures, Nagarjuna Fertilisers, Neyvelli Lignite, MRPL are currently in the ban period.
Trading in these companies were banned as they have crossed the 95 per cent of market-wide position limit and consequently, restricted from making any fresh contracts, the circular added.
"It is hereby informed that all clients or members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions," the circular said.
The scrip of Adlabs Films has witnessed a jump of over 30.23 per cent in December so far. From the levels of Rs 1,040.80 quoted on December 3, the scrip moved to Rs 1,355.50 as of December 14.
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